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I work in Rocky Mount, VA and live in Wirtz. Both are in Franklin County - formerly known as the Moonshine Capital of the World and setting for the movie Lawless. And i would not count on the government putting us out of business. There are too many special interests involved. Even if someone manages to pass a tax program that is simple, straightforward and comprehensible, after a short vacation enough exceptions and loopholes will be passed to complicate it again and we will be back in business. At least that is my cynical expectation.

So, this is it in a nutshell for me. I have moved on from the malignancy diagnosis for myself and we are handling the one for my husband. We feel that we are very fortunate and neither of us really wants to do anything else. We had our adventures when we were younger and are both involved in our own businesses. I started cutting back on business clients several years ago. Actually, one of my business clients who is semi-retired got notice yesterday that he has been randomly picked for a full blown audit in two weeks. I offered to have it held in my office but don't know why the decide to do these at this time of year. When I think I am starting to wear down, something like this happens and fires my ambition and confidence in my ability to handle it. Yes, each of us is different and my parents and grandparents also lived into their 90's with no signs of dementia. This could all change in the blink of an eye but I am not going to sit around waiting for another diagnosis of Cancer.

68. But my grandmother lived to 103, so I hope I have a lot of years left.

I have manually scanned/printed and filed all documents as PDFs for about 13 years. Every 'file cabinet' software I've looked at does not let you access your PDFs without using their software. I don't like that, and I've yet to find any problem that file cabinet software can solve, or any efficiency I could gain.

I deal primarily with self employed folks. A few years ago I analyzed and surveyed all of them to determine if and when they would retire. The bottom line? Almost none of them planned to retire. Almost to a person, they were well planned financially for retirement and they said they may not continue doing what they are currently doing, but they will never retire. It's the nature of the entrepreneur. The point, they will be doing something constructive their whole life through. These are not the mall sitters unless a health issue has come into play. Even then, I doubt that I would see them sitting in the mall. That said, I will exit this profession soon, at least from a full time position. But I have years and years of things to do. It will be a long while before I am bored. A very Blessed and Happy New Year to each of you and yours!

Every year, for the past 5 or so years....I kept saying "This is the end. I've had enough" for various reasons (TRX catastrophe, IRS getting tough about foreign accts, tax preparer requirements etc)...but I hung in there. I dropped PITAs each year, to lighten the load. Again...this past Oct I "wasn't sure" because of ACA and tax preparer requirements......... I had a "suspicious" mammogram....and decided IF there was a malignancy I'd "retire" (I can handle cancer stress; I can handle tax stress; but knew I couldn't handle clients with problems when I have medical issues). I had a very quick sale...for which I am very happy. My operation was a success; my therapy is going well; my prognosis is excellent....so I can call myself a retired breast cancer survivor at this time...who has "retired rich" and wants to "die poor".

Ah, Gail hit on a key point. I am hoping to get out gracefully over the next several years, as my accidental career as teacher, writer, and lecturer gets busier and busier. It doesn't pay a dingleberry, but we have always saved liked fiends and don't spend a lot - with my husband's pension and some investment income, we're OK without the money I earn. (Which I admit has *plummeted* since I moved out to an office and hired help; the gross went up about 10% and the expenses about doubled.... yet I can't improve that gross figure much and teach my assistant to take my place, all at the same time.) But making the rounds teaching I now find far more satisfying than tax prep. So time to pass it on to a young man who wants a profession that will ensure enough income for he and his fiancee to marry.

I plan on working until 70 - next March - and beyond. I still mostly enjoy using the brain cells I have left and some of my clients have declared that I cannot retire until they die. That won't happen for some of them but sadly has already happened for a few. I did spin off my businesses when my other CPA retired 4 years ago, though. No more payroll or monthly or quarterly reports to do. I didn't want to hire another and chose not to do it myself so my practice is quite manageable now. For AICPA and state society purposes, I am retired as I work primarily during tax season. You are correct, though, that we do need some younger folks here. If this forum disappeared, I would have to retire because this is my 'firm.' You are my colleagues and research fellows. And friends...

Agree with Abby. I scan all documents and keep them as pdf files. Just me but if you use a "file cabinet" software program, you are bound to that company and the price increases will eventually drive you nuts. My tax software allows me to put those pdf files into the return for later access - I rarely do so. I really like my tax software but refuse to bind myself to it so that I can't easily leave if required. I don't do scan and fill either. Don't trust them and if I'm verifying numbers, I may as well enter them myself and accept responsibility for the entries. I also do returns with 2 computer screens. One has this years software - the second has last years running so I can immediately look back and forth. On the second screen I can quickly and easily look up last years pdf file of documents if so inclined while I keep the primary return in front of me.

Like Gail I started out with Block 40 years ago. My partner says I can't quit until my youngest graduates from HS or college. Gees she is only 12. Hey Gail what part of VA do you hail from if you don't mind telling? According to some of the president wanna be's We are all gonna be out of business shortly.

We use File Cabinet which is integrated with Ultra Tax. The program automatically creates a file for the client and you can print the completed return directly to that folder. Same with the 9325s. We then scan all the client docs and file them in the same folder by year. We can also send copies of emails to the folder and make notes on the client's "home page." A default folder under each client is "permanent documents," where we store mortgage notes, state registrations, POAs, 8332s, whatever. When a client needs a copy of the tax form (what DO they do with the ones we give them?) or two years of W2s, we can send them directly from file cabinet with password protection. Or when they call we have all their info right at our desks and don't have to go digging up files (and then refiling them, which never seemed to get done). We have two monitors, and sometimes it's helpful to have prior years from file cabinet open on one screen, or instructions about how to enter some oddball items we stored there after we figured it out last year. We keep almost no paper anymore. Exceptions are estates, which are almost always on fiscal years but the tax docs come in for calendar years so you draw lines dividing everything between the taxpayer's final return and the estate's first return, or the estate's first and second fiscal years. I need those papers in front of me to make heads or tails out of. When we first started scanning all our paper files, we had some clients with years worth of brokerage statements and hung on to those in the event they ever sell some of those investments. It's not worth the time to scan 500 pages of documents and then search through 500 pages when you need something.

I will respectfully disagree with Jack - with caveats. I use the Drake document manager with Gruntworx. I love getting the indexed pdf's back, nice and tidy. I have learned that I still need to look at the originals (at least once) for any items hand-written on back or blank sides that I otherwise would not bother to look at in the pdf. But it really is great to be able to keep all the originals AND give them back. Electrons take up far less storage space than papers! Then months later when the client calls with the CP notice or just a question, you have not only your work but the originals you worked from right there.

I have not used Paperless Plus, but every program like it that I have had touch with is a waste of money and especially your time. Just my opinion. The technology is NOT as good as the salespeople say it is.

As long as I have the wisdom and grace to retire before I lose my ability to concentrate and retain new information, I will be happy. I think that point comes at different times for everyone, and if you are still enjoying what you do, and still able to do it well, why retire? Unless, of course, you have other responsibilities that are requiring your time or other adventures that you want to pursue!

If you are healthy, age is a number and/or a state of mind. Up until now, my husband and I have both been healthy and considered ourselves to be very fortunate. That has not been true this past year and someone has tried to slow us down a bit. Except for fatigue, I am pretty much over the hump for now. IMO, nothing will keep your brain sharper; longer; than trying to interpret the tax law. Other than having to work medical appointments into my tax schedule, I feel that I am ready to keep on keeping on. In my heart, I am still the young wife and mother with two small children who was looking for a way to supplement our income. I was fortunate to find my niche and it has served me well. I still find tax preparation to be challenging and fulfilling. I will continue as long as my body and mind allow me to.

I'm 76 and know the pasture awaits, but ah'd druther trudge on in my rut until either it or I collapse, whichever comes first. To offer some perspective on age; when my day job folded in the eighties, tax season was over, I had few write-up clients, and desktop computers were being introduced. I answered a software company's ad for commission-only salesmen (some good advice: NEVER do that) and after a dozen failed sales attempts, I called on an out-of-town independent insurance agency. At the time I was forty-something and a snowy-haired gentlemen sat down with me, relaxed while listening courteously and attentively to my entire amateurish spiel; pausing only to light a pipe and pluck occasionally at his flag-emblazoned suspenders. He summed up the situation thus: "Well sonny; I'm 95. I own this place. My wife, Margaret there (pointed to a nice lady at her Underwood who looked up, nodded, and wiggled her fingers at me) is my secretary. She's 90. We've been selling insurance here for 60 years without a computer. Now, I know they're the GOING THING, but ..... I'm NOT GOING with them! But I do appreciate you coming by to explain everything to me. Goodbye and good luck to you." And so ended my sales career; it's been taxes ever since and hopefully will be for a good while yet .....

Here's an AICPA article on S corp shareholders, confirming what others have said.

Why not be transparent? It bothered me enough, so... (I can't wait for you all to see this! ) Thanks for providing that link, Brian! Clicking on it took me to the WY business entity detail that shows that this company is a domestic LLC called Advanced Tax Solutions, LLC whose registered agent is Business Filings International, Inc, its principle office in Henderson, NV. http://www.bizapedia.com/wy/ADVANCED-TAX-SOLUTIONS-LLC.html Searching for that co name, Business Filings International, Inc, and location lead me to 4 people all with connections at Wolters Kluwer: President, Karen Kobelski, employement history shows two positions with Wolters Kluwer - VP Sales, Marketing, Service and also VP Small Business Solutions: http://www.zoominfo.com/p/Karen-Kobelski/1315670934 Secretary, Deidra D Gold, another with a position listed at Wolters Kluwer - Executive Vice President and General Counsel for North America: http://www.zoominfo.com/p/Deidra-Gold/113287217 Treasurer, Norm Plaistowe - serves as Chief Financial Officer of Wolters Kluwer Corporate & Financial Services of Wolters Kluwer NV. Mr. Plaistowe served as Chief Financial Officer of Wolters Kluwer Financial Services http://investing.businessweek.com/research/stocks/people/person.asp?personId=12933252&ticker=WKL:NA VP is Richard J Parker - Secretary of CCH Legal information Services, Inc and holds active roles in fifteen companies and inactive roles in six additional ones. He is also listed as Secretary of CCH, Inc, Wolters Kluwer U.S., Inc., Wolters Kluwer Health, Inc, some others, and is past president of Wolters Kluwer Pharma Solutions, Inc. http://www.corporationwiki.com/Illinois/Riverwoods/richard-j-parker/26149700.aspx COMMENTS ANYONE?